Monday, February 25, 2008

Scenes From the Mortgage Crisis, Part One

The Chicago Tribune finds that a home in Chicago that Countrywide mortgaged TWICE for a total of $450,000 and then foreclosed upon and resold somehow managed to change hands three times without anyone noticing that the home's owner (who did not sell the home) and his dog were both lying dead inside. The bodies may have been there since 2006.
Countrywide chairman Angelo Mozilo paid himself a bonus of $36.4 million earlier this year for the job he did running the company; the bonus had been double that initially, but public outcry caused him to scale back.

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